Service Detail: Payroll Bulk Payments
Bank of St. Helena is able to offer businesses a swift and efficient way to make payroll payments to their workforce.
Payroll Bulk Payments allow the business to define a single payment instruction which directly credits the accounts of all the participating members of the workforce.
Note that it is necessary for each participating employee to have a receiving account at Bank of St. Helena. However the account in question can be any type of account, including a joint account, and does not necessarily need to be in the employee's own name.
The employer submits each month a payment instruction (which may be computer generated). The instruction provides the account name, account number and payment amount for every participating employee, and defines the employer's bank account to be debited.
For more details on setting up Payroll Bulk Payments please contact us.
Please note that, like all of our basic banking services, this service is free.
Eligible Accounts
Payroll Bulk Payments can only be made from a Current Account. They can be made to any type of account.
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